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Below is an Interesting article I found, which says that.....Do not
2 `, H9 Y! p5 U6 N8 z% ~5 \- N6 lexpect much from Crude Oil producers and future is not with the
S8 C1 m- T9 U3 b' pcompanies producing Jet fuels but Biofuels. Also no wonder if some of
% H* ^% C+ R: l+ mthese oil producer will go bankrupt or out of the business even if 3 }9 D: ]$ o }4 r1 V
crude prices improves. This implies also to good names such as Shell, 6 i/ X2 W; P$ M% d
EXXON, BG, BP, Cheveron ....xyz.. oils : g' r- P# w! {! `; |7 M) L
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Recently OPEC reduced crude oil production twice over just a few 6 q j/ ?5 [! r. g7 R% T8 W
months. There are three wars going on in Gaza, Iraq and Afghandistan. / C& A9 l% O3 w2 j5 l9 {) Y( W
A year ago these things would have spiked the price of crude oil by at * ~5 E! M2 B* a' H) u3 Q& Q
least $50.00 per barrel. Today, oil price declined by a record amount. 0 C; O3 I" u1 `5 u' I; H: U
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8 R) i: p" j4 A* iThere are several reasons the price of oil is decreasing in the face ; b# F; h- k7 W1 z( b4 _# P; O
of so much news. These reasons are: 8 ?; [" C0 C8 D3 G9 l6 @, k7 ?
$ `8 ?' q( r) W
% D% c5 T/ [0 `% F1. New oil has been found in Canada, Montana, North & South Dakota and
Z) n$ H8 U( c7 K! `) din the ocean near Brazil. Each of these oil fields has more oil than ; u: L q* V5 n" V( l( Q* m
Arabia. ; f$ \; c: K) t4 @6 G
: ~; h% H8 q1 F. c+ J) }) e
/ R% I% Z. U1 I0 L6 f2 b2. New natural gas has been found in Pennsylvania and West Virginia. ( v8 H' e. I/ z4 D2 n7 ^7 p+ [) z
This is the largest find in North America. 8 c! ~7 @+ I+ P9 E
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6 X; H& d+ D) E/ H+ f3. New methods of injecting CO2 and surfactants into oil wells is
* O$ V' [, u' @( Obeing used to double their output. , O7 l& z, P$ ~6 S7 { |
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7 j5 m/ g5 Z1 W8 ~$ Y4. Production of bio-fuels is beginning to reach critical mass. Bio
' d9 v [2 J/ j3 Y+ Ifuel is being produced from many plants and algae. The production
) C2 b5 f, A3 ]4 I) M$ I' |potential per acre in some cases is astounding. Many countries are
! |; ^; g$ T7 r! Y/ vracing to produce bio fuels. 6 d7 u( x. X j. Y, O! u
$ h( E4 S8 q5 }! P+ ?- l7 C, l- Z+ l( M2 g( f% M) i# `& n
5. Virtually every restaurant in the US and all food processing plants 1 E0 Q3 S% C. n
are now selling their used oil to bio-diesel producers. Every pork, 3 r+ M; k1 s: k: ]; ~- _
cattle, turkey and chicken processing plant will soon sell their fat
/ T7 v4 N3 H9 E/ qto bio-diesel producers. One pork processing plant in Oklahoma is
: r0 E2 Z' b9 a G: {+ Gproducing 30,000 gallons of bio-diesel per day from pork fat. ( e. j; L0 s' n- d) m/ T
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6. There are 99 nuclear reactors in various stages of planning and
' T& |8 j6 v2 } [ Lconstruction around the world at this time. Several hundred more are
p7 X! ?# @3 r: l& o, L9 a& s& Nexpected to be built in the future. Much of the energy they produce 8 E1 u1 W$ [# m7 ]
will replace oil. 7 I0 @' e" h+ R# G# C8 z* A
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/ t/ ?* j6 k \) h0 W# H. R/ a- [, D7. Every company in any form of transportaion business is replacing - n6 f9 B& j/ ^0 p* U
older equipment such as trucks, airplanes, train engines, ships, etc. 0 B0 S4 E$ C) ~. Y) @ r# v
with new more fuel efficient equipment. Airlines and railway companies
( X0 ^1 _1 F* | v5 {are experiencing 20% to 25% better fuel econony with the new / h$ ? W, i: B! A7 O5 m# n/ w
equipment.
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- i4 C* K1 C) F& c* ZAirlines are flying airplanes with bio-fuel. They are finding the bio-
; T" v2 q6 e8 W/ V, |fuel is cleaner and performs better than jet fuel. $ r9 i" O0 K% J
$ {3 H% ?- L; H" @, [2 ^' H6 o
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8. Cities and counties throughout the US are selling the rights to
" Z1 }: g7 k V2 ^8 Ecapture methane gas from landfills. This is a huge source of gas # b2 Q6 x% ]; o' t, d
available at very little cost or risk. The gas is displacing crude
4 e6 t8 t3 B5 Goil.
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9. Coal is being transformed into a clean burning liquid fuel. The CO2
( X1 V- D% O- x! fproduced as a byproduct is sold to oil companies for injection into / H- A- \6 {* k( s9 U3 z
oil wells.
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' ]/ |9 }+ Q+ w: w1 h& Q" k10. Solar, wind and ocean energy is displacing oil as an energy
4 t7 S& l* \9 }: U7 E( tsource. Three new wind turbines are being erected every day in the US.
5 m4 c- E% Z' Y( F1 [
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$ K' d, K' x9 W. U- N" ^Each of the above by itself will not make a large difference in the + S* _; {2 i# F) g4 C
price of crude oil but the sum of all of them together is world 0 {. z R1 {1 H3 i- T$ D% N
changing. The important thing is that OPEC no longer has the ability
9 }1 e l. v' n, }. dto control oil prices. $ Q7 I- j* i; N" A) @3 N) E5 N5 c, }
+ O1 C% D( H, H$ s# M( R9 k5 O3 ~
% h* i8 y6 p K( |; K# E1 f' ]With the above scenario, I still believe that there are under
- X9 n& R m5 }# Kperformed OIL companies and probably they are yet to get the justified ' U5 S& \6 P! ^1 `- y' P+ c
value .....
5 \! V9 p' {/ y$ U& q$ ?3 bIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... 5 h9 Y1 _6 T& @+ ]9 d
& d0 y/ {" I3 _- F- _6 W" f" N
4 ?; I! @; X: D b$ }" k6 rThe above articles are from WSJ .............PUBLISHED ON 9TH JAN
/ j6 \! Q: x* _7 K C2009 ... FYI-Only |
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